Hampton Roads Community Foundation

Comparison of Private Foundations and Donor Advised Funds

at the Hampton Roads Community Foundation

	Hampton Roads Community Foundation Donor Advised Fund	Private Foundation
Donor Involvement
	Donor recommends grants to qualified nonprofit groups. Grants are approved by the Hampton Roads Community Foundation board of directors.	Donor appoints board, which controls investments and grantmaking.
Tax Status
	Public charity.	Private charity.
Income Tax Deductions for Gifts of:
Cash	Up to 50% of adjusted gross income.	Up to 30% of adjusted gross income.
Appreciated Stock	Fair market value up to 30% of adjusted gross income.	Fair market value up to 20% of adjusted gross income.
Real estate and closely held stock	Fair market value up to 30% of adjusted gross income.	Cost basis up to 20% of adjusted gross income.
Grantmaking Support
	Professional staff is available to help identify and assess grantees, provide input on community needs, and verify nonprofit status of groups.	Donors must arrange and support their own grantmaking and monitoring structure.
Start-up Costs
Initial Costs	None.	Several thousands of dollars for legal and accounting expenses and filing fees.
Minimum Contribution	Thousand of dollars.	Typically millions of dollars.
Administration
Ongoing costs	Pooled administration; annual fee.	Several thousand dollars for legal and accounting expenses and filing fees.
Reporting	Hampton Roads Community Foundation handles reporting.	Annual 990 tax form must be filed.